MONETTE FARMS land parcels for sale

[sumdumguy]

BTO’s around here are unscrupulous. There won’t be much pity around here. They go to landowners, bad-mouth the current renters, offer monster cash rents. There’s bad feelings created and its not good. And why do they do it? Because they can, the banks give them the ammunition.

[bucket]

If I understand this correctly, it will be mostly Scotia Bank that will end up owning land. If I remember correctly from the 80's banks that got into this position wanted to move the land as quickly as possible. Those that are in a position to take advantage of this will get a good deal.

The syndicate will end up owning the land. Scotiabank is the frontman. FCC has a 134M capital facility with Monette

[agstar77]

Why is FCC even lending to a huge monstrosity like Monette? Someone there needs to be fired.

[blackpowder]

FCC doesn't have to follow all the same rules other banks do.
Great until it isn't. You either want the fed govt involved in ag lending, or you don't.

[LEP]

Balance sheets

Yes. I was being sarcastic.

Just like alot of things. Everything is good in moderation. Land inflation included.

[LEP]

The syndicate will end up owning the land. Scotiabank is the frontman. FCC has a 134M capital facility with Monette

I think being lead on the syndicate means administrating everything. Disbursement, ongoing operation and collection.

Members in the syndicate have a vote but only cheques are passed back and forth.

[wheatking16]

Yes. I was being sarcastic.

Just like alot of things. Everything is good in moderation. Land inflation included.

I should have picked up on that. lol

[SmallTimeOperator]

BTO’s around here are unscrupulous. There won’t be much pity around here. They go to landowners, bad-mouth the current renters, offer monster cash rents. There’s bad feelings created and its not good. And why do they do it? Because they can, the banks give them the ammunition.

You nailed it here bro. The big operators have been hunting down my landlords for years and offering them monstrous money. They are literally trying to take over all my rented land and have been successful on a lot of it. That is why I say the landlords are enablers. They are just as much a part of this as the big operators are. So when the landlords don’t get paid when the big guy goes down, there is absolutely no pity here. They did it to themselves. Take the unpaid rent and now the falling land values on the chin and don’t cry. The banks, especially Scotiabank and FCC, are enablers also because once the landlord agrees to rent the land to the mega farm, FCC and Scotiabank give them the money they need for farm inputs enabling the takeover of the little guys. But FCC and Scotiabank won’t give any facetime to the little guy. It’s a culture in these lenders to chase the big operators and run the little guys out. So be proud Scotiabank and FCC. You are the enablers, running the small farmers out of business and at the same time lending loans to the big farms who will never pay. Fire all the bankers and all those who give approvals involved in ag lending.

[LEP]

Internet says Farm debt owed across Canada has risen to over $ 166 billion

I searched that this morning. Total farm debt $166B and Monette was almost $1B.

It was definitely a committee of Sr VPs that approved this credit.

[wheatking16]

I searched that this morning. Total farm debt $166B and Monette was almost $1B.

It was definitely a committee of Sr VPs that approved this credit.

That is a crazy stat.